Episode 100: This week, Kyle Van Pelt talks with Dave Welling, CEO of Mercer Advisors.  With 25 years of experience in wealth management, Dave has an extensive track record of serving clients and helping businesses and people define and achieve the next level of success. 

Together, Kyle and Dave unpack the human side of Mercer's incredible growth story, reflecting on how the firm's partnerships have fueled its scale and shaped its culture. From his unlikely entry into the RIA space to overseeing 95+ acquisitions since 2017, Dave shares insights on staying purpose-driven, maintaining empathy, and choosing growth as an integral part of an organization's DNA.

In this episode:

(00:00) - Intro

(01:31) - The journey to Mercer's 100 partnerships

(03:17) - Dave's money moment

(06:45) - How Dave's past experiences have influenced his present career

(11:05) - Why firms choose to partner with Mercer Advisors

(14:45) - Mercer Advisors' organic growth strategies

(17:11) - Talent attraction and growth as part of Mercer's DNA

(19:13) - The continuous journey of improvement

(23:51) - Leveraging technology experience on the RIA side

(27:49) - The best time to invest in technology solutions

(31:06) - The lessons Dave learned from working with Charles Schwab

(34:28) - Dave's thoughts about the future of Mercer Advisors

(37:34) - The role of AI in orchestrating workflows in the organization

(39:36) - Dave’s Milemarker Minute

Key Takeaways

Don't view growth as merely an outcome but rather as an integral part of your organization's DNA. Foster an environment that encourages individuals to learn, take on new responsibilities, and improve continuously.

When pursuing mergers or acquisitions, focus on integrating new teams into the existing structure rather than simply aggregating entities. The goal should be to enhance capabilities, improve client experiences, and create synergistic opportunities for all involved.

Before a transaction, engage in deep conversations with potential partners to understand their current challenges, unfulfilled opportunities, and aspirations. Help them determine if a partnership genuinely aligns with their long-term goals and will lead to a better future for their clients and team.

View technology as an enabler for scaling your operations and ensuring consistent service delivery. Before implementing new tech, standardize your core processes. Then, invest in platforms that not only support current operations but also allow for significant future growth.

Quotes

"Growth is part of our DNA. Growth is part of our culture. And the people that thrive here are interested in growing in some way." ~ Dave Welling

"The healthiest thing you can do for talented individuals of any age, at any stage of their careers, is provide an environment of growth so people can carve a path and jump into that next opportunity." ~ Dave Welling

"Growth isn't just adding assets, adding clients, and getting a bigger AUM number. Growth is just progress." ~ Dave Welling

Links 

Dave Welling on LinkedIn

Mercer Advisors

Nitrogen

Charles Schwab

Black Diamond Wealth Platform

Paragon Wealth Strategies

The 5 Types of Wealth

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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Dave Welling is the Chief Executive Officer at Mercer Advisors. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change. Mercer Global Advisors Inc. is registered with the Securities and Exchange Commission and delivers all investment-related services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. and is not involved with investment services.